Bullpen Capital
Bullpen Capital last closed a fund in November 2022 — 48 months ago. By its own rhythm, that is already past its usual gap.
Bullpen Capital has raised 4 times about every 24 months. The last was Bullpen Capital VI-A, L.P. That pointed to Nov 2024. It is 24 months past its own gap and has not filed a new fund.
Historically about 1 in 4 firms in this position filed within a year. The month is approximate — how often this is right.
Late-cycle This firm is deep enough into its last fund that a new one would not be a surprise.
- Funds on file
- 13
- Capital raised
- $614M
- Latest close
- November 2022
- Based in
- CA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Bullpen Capital VI-A, L.P. | November 2022 | $2M | 0001950089 ↗ |
| Bullpen Capital VI, L.P. | June 2022 | $150M | 0001928267 ↗ |
| Bullpen Playoff Fund 2021 LLC | December 2021 | $19M | 0001903116 ↗ |
| Bullpen Capital V, L.P. | June 2020 | $109M | 0001810938 ↗ |
| Bullpen Capital IV, L.P. | March 2018 | $125M | 0001734855 ↗ |
| Bullpen Capital III, L.P. | May 2016 | $75M | 0001673796 ↗ |
| Bullpen DDE, LLC | August 2015 | $1M | 0001651150 ↗ |
| Bullpen FDE, LLC | April 2015 | $5M | 0001639490 ↗ |
| Bullpen Enspire, LLC | August 2014 | $654,647 | 0001616786 ↗ |
| Bullpen FanDuel, LLC | July 2014 | $2M | 0001614336 ↗ |
| Bullpen Capital, L.P. | — | $50M | 0001508376 ↗ |
| Bullpen Capital II, L.P. | — | $35M | 0001551884 ↗ |
| Bullpen Playoff Fund, L.P. | — | $40M | 0001734853 ↗ |
Dated from filing date; no date of first sale was reported.
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Paul Martino, Duncan Davidson, Richard Melmon
What Bullpen Capital invests in
- Typical fund
- $35M median, seed to early stage
- Website
- bullpencap.com
Service providers
- Fund administrator
- Aduro (11 funds)
- Auditor
- Frank Rimerman (9 funds)
From Form ADV filed by BULLPEN MANAGEMENT, LLC CRD 166060 ↗, latest filing March 2026, covering 11 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.